STOCKS NEWS EUROPE-Leoni up, operating result positive

Shares in Leoni (LEOGn.DE) gain 2.5 percent, making them one of the biggest gainers among German midcaps .MDAXI, after the autoparts specialist reports a positive third-quarter EBIT result, as operating profit levels return to positive territory.

"The figures came in better than expected, especially at reported EBIT-level," says DZ Bank analyst Michael Punzet.

"One reason for the good reported EBIT was the low amount of restructuring charges booked in the third quarter. The sales outlook for 2010 is also a bit of a surprise as we and the consensus expected only an increase of around 5 percent."

The company says it expects a sales increase of 10 percent in 2010.

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